Author Topic: Border town (US / Canada) landlord resources?  (Read 977 times)

MBot

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Border town (US / Canada) landlord resources?
« on: July 04, 2014, 09:49:41 PM »
I live on a Canada/US border town. I'm Canadian, living in Canada.  I own my house.

In 1-2 years I'd like to have a couple rentals also.

The US side has much better numbers for rentals (many 3 bed houses from 40-60k that would rent for 800/mo to mid-range neighbourhood tenants.  Plus a university if I wanted to buy housing near it and go the student rental route. Plus deals to find and fixer uppers if I'm patient and prepared).

I live close enough to manage the properties and rental applications/showing/screening part.

Has anyone been in a similar situation? What do I need to be aware of income-wise/tax-wise for this kind of thing?

JayKay

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Re: Border town (US / Canada) landlord resources?
« Reply #1 on: July 09, 2014, 03:50:18 PM »
So, if you're going to buy in the US, I think it could definitely be a better deal than Canada.  (I'm somewhat familiar with the CDN market and the prices are getting very high, especially compared with the average salaries.  That's a dangerous state)

But, I'd say don't buy in a place just because it's close to you and the prices are cheaper.  You're probably going to have more overhead going into the US, so make it worth your while.  Do your homework, consider all the major areas and get into a great location with good jobs, good consistent returns, less headaches and a good chance at appreciation.

daverobev

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Re: Border town (US / Canada) landlord resources?
« Reply #2 on: July 10, 2014, 12:49:26 PM »
Unless you have a US work permit you are not allowed to do any work in the US. That includes maintenance, upgrades, etc on rental properties. Showing the houses.. not sure. You are allowed to work on your own residence, but NOT anything that makes you money.

IMHO - buy it, and get someone else to manage it.

It's easy. US tax return 1040NR is not hard (you'll need an ITIN).